Side-by-side cost of living comparison for 2026
Median Income: $41,228
Population: 633,104
Median Income: $49,127
Population: 1,603,797
When comparing Memphis and Philadelphia, the overall cost of living differs by 47.4%. Philadelphia carries a cost index of 112 compared to Memphis's 76, meaning your dollar stretches 32% further in Memphis.
Housing is where the most significant gap appears between these two cities. Memphis has a housing index of 62 compared to Philadelphia's 112. This 50-point difference translates to substantial monthly savings on rent or mortgage payments in Memphis.
Memphis is more affordable for: Housing, Food & Groceries, Transportation, Healthcare, Utilities, Entertainment, Taxes.
If you earn $60,000 in Memphis, you would need $88,421 in Philadelphia to maintain the same standard of living. For a $100,000 salary, the equivalent would be $147,368.
The median household income in Memphis is $41,228 compared to $49,127 in Philadelphia. Philadelphia has higher incomes, though the higher cost of living may offset this advantage.
Safety: Memphis scores 3/10 while Philadelphia scores 4/10 in our safety assessment.
Weather: Memphis has an edge in climate with a 6/10 weather score compared to Philadelphia's 5/10.
Job Market: Philadelphia has the stronger job market (6/10) compared to Memphis (5/10).
Memphis is the more affordable option overall, but cost is just one factor in deciding where to live. Consider your career opportunities, family needs, and lifestyle preferences alongside the financial comparison. Philadelphia may justify its higher costs with unique cultural amenities that many residents find worthwhile.
